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Credit Counseling

Credit counseling is a good option for people who are considering bankruptcy or those who have trouble managing their money. Credit counseling is also good for people who are just starting out and want to ensure they begin their life journey with a strong financial foothold.

Credit counseling is available in nearly every metropolitan city across the United States. Most agencies charge a fee for their services. However, there are non-profit credit counseling agencies that provide no- or low-cost services to those who qualify.

It is important to conduct research prior to retaining credit counseling. Unfortunately, there are many unscrupulous people who claim they can help consumers reduce debts. With the current recessed economy and credit crisis, a large percentage of Americans are finding themselves immersed in debt. Oftentimes, they turn to the first available resource that offers them a way out. This can lead to serious consequences if care is not taken to select a reputable organization.

Today, many Americans are turning to the Internet to locate credit counseling or debt consolidation resources. While the Internet can provide numerous resources, consumers must engage in due diligence to ensure the company they are working with is legitimate. Otherwise, they could be spending good money on products or services that don't deliver.

Before plunking down hard earned cash for credit counseling services sold through websites, consumers should conduct research online and check the Better Business Bureau website to ensure the company is in good standing.

When it comes to money management, Dave Ramsey is one of the most respected professionals in the industry. Ramsey offers a wide range of debt management products including the wildly popular "My Total Money Makeover" program. Dave Ramsey teaches consumers how to live without credit cards, repair damaged credit and build a hefty financial portfolio.

Another trusted credit counseling source is MyMoney.gov; a program established through the U.S. Financial Literacy and Education Commission. Consumers can order a free "My Money" toolkit which provides a wealth of information about money management. Did I mention, it's free?

Last, but not least, your local library is an excellent source for obtaining free credit counseling information. Libraries are packed with books, videos and home study courses on everything from budgeting to investing.

Regaining control of finances is very empowering. Anyone with a desire to overcome credit challenges can accomplish their goals by taking time to become educated about money management. Taking time to learn the ropes can help you pay off credit cards, eliminate debt, build an investment portfolio and become adept at finances.

Before you leave, we invite you to browse our credit counseling and money management article library. We add new articles each week and look forward to becoming your trusted source for money management and investing information.


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Published on December 25, 2008 at 08:23 PM

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